James Letchinger

JDL Development plans to close the deal Friday, Ald. James Cappleman (46th) said.

Crain's is reporting that developer Jim Letchinger has purchased the property.

JDL initially wanted a more than $32 million TIF subsidy — the city is only offering $14 million.

The plan for the vacant Maryville Academy campus had neighbors protesting at Ald. Cappleman's office.  

A mid-century modern building faces the wrecking ball as part of a plan for luxury housing.

A developer who wanted to save the historic building was stopped from surveying the property.

Jim Belli, son of Edo Belli, added his voice to calls to reuse the Mid-Modern work.

The committee recommended destroying Cuneo Memorial Hospital, making 10 percent of units "affordable."  

Preservation advocates said TIF money should save — not destroy the Mid-Century Modernist work.

The 15-story retail and rental building is "definitely on target" for this year, the developer said.

James Letchinger also said the "affordable people" won't control the debate about his project.  

Preservationists fear that Cuneo Memorial Hospital could be razed to make way for a luxury high-rise.

Uptown development seeking city funds excludes most low-income and working-class renters, opponents say.

Ald. James Cappleman (46th) sees "an openness" to the project" in the community.

A public meeting to review the plan that would create nearly 800 apartments is scheduled for Dec. 13.